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BCE privatization deal dead, company seeks $1.2 billion break-up fee

Briefs | 12/11/2008 4:38 pm EST

The $52-billion privatization BCE deal has been pulled off the table by lead investor Ontario Teachers’ Pension Plan the day before deal was expected to die after KPMG delivered a negative insolvency report. The communications giant says in a statement that the investment group wasn’t allowed to prematurely terminate the deal and will as a result seek payment of the $1.2 billion break-up fee that was set out in the privatization agreement.

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